24/7 Customer Support
Global Viscosupplementation Market was valued at US$ 4,347.8 million in 2022 and is expected to reach US$ 8,958.9 million by 2030 at a CAGR of 8.4% during the forecast period (2023–2030).
Viscosupplementation is a highly sought-after medical treatment for the management of osteoarthritis-related pain and joint function improvement. The demand for viscosupplementation has witnessed a significant surge in recent years, owing to the growing incidence of osteoarthritis and an aging population.
Innovations in viscosupplementation products, such as longer-lasting formulations and minimally invasive delivery methods, have emerged as key market trends, further driving growth. Additionally, the increasing awareness of the efficacy of viscosupplementation, along with the broadening availability of treatments through healthcare systems and retail clinics, has also played a pivotal role in fostering market growth.
The primary growth drivers for the viscosupplementation market include the rising incidence of osteoarthritis, aging demographics, and growing awareness of viscosupplementation's benefits. The expanding access to viscosupplementation treatments through healthcare systems and retail clinics has also stimulated demand for these products.
To Get more Insights, Request A Free Sample
The viscosupplementation market faces certain challenges that could impact its growth, such as high treatment costs and associated adverse effects. The cost of viscosupplementation using hyaluronic acid is substantial, with Euflexxa starting at roughly $1,017 and Synvisc starting at $1,325. This high cost of treatment can present a burden for middle- and low-income countries, such as India, Vietnam, the Philippines, and some countries in the Middle East.
The high cost of treatment and adverse effects associated with viscosupplementation could potentially limit market growth to some extent. However, further research and advancements in the viscosupplementation market could lead to more affordable and effective solutions, mitigating these challenges and driving market growth.
In addition, reimbursement policies for viscosupplementation treatments vary across different regions and countries, affecting the accessibility and affordability of treatments for patients. This variability in reimbursement policies could impact the adoption and growth of viscosupplementation in certain markets. Moreover, there is a lack of standardization in the formulation and delivery of viscosupplementation products, leading to inconsistent efficacy and safety outcomes among products. This lack of standardization could challenge the growth of the market and decrease patient confidence in viscosupplementation as a treatment option.
Despite these challenges, the increasing awareness of viscosupplementation's benefits and the growing demand for treatments for osteoarthritis are expected to drive market growth. Companies in the viscosupplementation market are exploring new and innovative product offerings and delivery methods to meet this demand and overcome the current challenges.
The viscosupplementation industry is segmented by product type into Single Injection, Three Injection, and Five Injection. The Three Injection segment is projected to hold the largest market share of 44.9% in the global viscosupplementation market in 2022. On the other hand, the Single Injection segment is expected to experience the fastest CAGR of 9.2% in the global market.
The high level of awareness about the single-injection treatment and a growing preference for the administration of osteoarthritis treatment are factors likely to drive the growth of the viscosupplementation market. The increasing demand for effective and convenient treatment options is expected to boost the adoption of single-injection viscosupplementation, further fueling market growth.
The global market is segmented into two end-user segments: Hospitals and Orthopedic Clinics/ASCs. In 2022, hospitals held the largest market share of 79.8%. However, the orthopedic clinics/ASCs segment is expected to grow at the fastest CAGR of 8.8% in the forecast period. The growth of the orthopedic clinics/ASCs segment can be attributed to the shift towards value-based care and the increasing competition faced by hospitals from outpatient facilities. Outpatient facilities offer operational and economic efficiencies, such as easier patient access, more competitive pricing, and greater physician engagement opportunities, which are contributing to their growth.
Additionally, the trend towards non-invasive and minimally invasive procedures in the viscosupplementation market is also driving the growth of the orthopedic clinics/ASCs segment. Patients are increasingly seeking more convenient and less painful treatment options for their orthopedic conditions, leading to a rise in demand for office-based procedures and ambulatory surgeries. This shift has resulted in the growth of orthopedic clinics and ASCs, which are better equipped to meet the needs of patients seeking these types of treatments. Furthermore, advancements in medical technologies and techniques are also contributing to the growth of this segment.
Moreover, the increasing prevalence of osteoarthritis and other joint-related conditions is also driving the demand for viscosupplementation procedures. As the aging population grows, the need for orthopedic treatments is expected to increase, providing growth opportunities for the viscosupplementation market.
To Understand More About this Research: Request A Free Sample
In terms of geography, the viscosupplementation market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia Pacific is expected to hold the largest market share, driven by the high prevalence of osteoarthritis and a growing demand for effective and minimally invasive treatments. The region is also is expected to experience the fastest growth in the coming years, driven by the increasing demand for treatments for osteoarthritis, a rapidly aging population, and the growing awareness of viscosupplementation. Additionally, the increasing healthcare spending and advancements in the field are expected to further drive market growth in the Asia-Pacific region. In line with this, the region is projected to continue contributing over 38% to the global viscosupplementation market revenue.
North America is expected to follow closely behind, with a significant market share attributed to the increasing awareness of viscosupplementation and the availability of treatments through healthcare systems.
By Product Type
By End Users
Single injection, three injection, and five injections are the major products and services under the viscosupplementation market that are expected to grow substantially in the future.
The main end users of viscosupplementation includes hospitals, and orthopaedic clinics/ASCs.
The main benefits of viscosupplementation includes benefits regarding pain and function associated with osteoarthritis, and also favourably alters the course of the disease, through quantitatively and qualitatively improving the joint cartilage.
The global viscosupplementation market is projected to grow at a CAGR of 8.4% during the forecast period 2023-2030 and is expected to reach US$ 8,958.9 million by 2030.
Factor such as rising prevalence of osteoarthritis worldwide, healthcare infrastructure growth installed base and rise in demand for the treatment procedures, surge in geriatric population and high prevalence of obesity drives the growth in the global viscosupplementation market over the forecast period.
The three-injection segment holds the largest CAGR in the global viscosupplementation market during the forecast period, 2023-2030.
High cost and adverse effect inhibit the growth of the viscosupplementation market during the forecast period, 2023-2030.
Asia Pacific holds the major share in term of revenue in the global viscosupplementation market in 2022.
Japan holds the major share in term of revenue in the Asia Pacific viscosupplementation market in 2022.
With the increasing geriatric population, the prevalence of osteoarthritis is expected to increase dramatically which provides a lucrative growth opportunity in the viscosupplementation market.
Product Type, End User and Country are the different segments in the global viscosupplementation market.
Sanofi, Zimmer Holdings Inc., Anika Therapeutics, Seikagaku Corporation, Fidia Farmaceutici S.p.A., LG Chem, and Ferring B.V., among others are the major key players in the global viscosupplementation market.
LOOKING FOR COMPREHENSIVE MARKET KNOWLEDGE? ENGAGE OUR EXPERT SPECIALISTS.SPEAK TO AN ANALYST